# Prof. Rosa Abrantes-Metz on the lack of oversight in the gold market

1 Faculty News November 26, 2013 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2013-11-26/gold-fix-drawing-scrutiny-amid-knowledge-tied-to-eruption.html) -- “'There is a huge incentive for these banks to try and influence where the benchmark is set depending on their trading positions, and there is almost no scrutiny,' she said. [Abrantes-Metz](http://www.stern.nyu.edu/faculty/bio/Romy) said the gold fix should be replaced with a benchmark calculated by taking a snapshot of trading in a market where $19.6 trillion of the precious metal circulated last year, according to CPM Group, a New York-based research company."

[Read more](http://www.bloomberg.com/news/2013-11-26/gold-fix-drawing-scrutiny-amid-knowledge-tied-to-eruption.html)